Coffee brand Bear launches crowdfund

By Restaurant

- Last updated on GMT

Getty Images: Azman Jaka
Getty Images: Azman Jaka

Related tags Coffee Multi-site

Independent coffee brand Bear is launching a crowdfunding campaign to fund future growth.

The brand is looking to raise £2m to support its national expansion via an equity crowdfund using the platform Crowdcube.

Investors in the campaign will own Enterprise Investment Scheme eligible shares as well as receive a range of rewards that will include from free coffee and brunch, discounts, and lifetime subscriptions to Bear’s at-home coffee range.

Bear was launched by friends Craig Bunting and Michael Thorley in Uttoxeter in February 2016 after the pair had been playing around on an at-home espresso machine that Bunting had picked up from a supermarket and installed in his dad’s shed.

It now operates seven sites across The Midlands in Derby, Stone, Derbion, Northwich, Ashbourne, and Nottingham and employs 130 people.

The business intends to use the funds to more than quadruple its footprint across the UK with 22 new sites planned over the next five years.

“Our community is our heart, and we want to share a part of ourselves with the people without whom Bear wouldn’t exist,” say the founders.

“It’s your time become a shareholder of our award-winning brand through this EIS eligible round, and with the great rewards options we have available, we hope we’ve made the decision to invest in Bear a really easy one.”

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